Yahoo - Why Bitcoin is poised to break out to all-time highs by @lvlewitinn

Bitcoin is at a crucial technical point but can it gain the acceptance it needs to survive? Bitcoin is starting to get some high-profiled acceptance. First was Sir Richard Branson's Virgin Galactic . Then Overstock began accepting Bitcoin, taking in $126,000 in sales with the virtual currency on the very first day. On Tuesday, the Sacramento Kings – purchased last year by TIBCO founder Vivek Rendivé – became the first NBA team to accept Bitcoin payments. Now, two Las Vegas casinos owned by brothers Derek and Greg Stevens, will be accepting Bitcoin: the D and the Golden Gate. Nonetheless, US government officials are taking an extremely cautious approach to Bitcoin due to it being the currency of choice for some in the criminal underworld. Secretary of the Treasury Jack Lew, in an interview with CNBC on Thursday, said: "Bitcoin is a phenomenon that we need more time to discu...